https://www.taxtmi.com/caselaws?id=303944 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal on the taxability of interest income received by the Head Office from branches in India for Assessment Year 2009-10. The Tribunal relied on a previous decision for the same assessee, ruling that the interest income is not chargeable to tax in India. Additionally, the Tribunal clarified the application of Section 40(a)(i) of the Income Tax Act, emphasizing that in the current year, tax was deducted at the source, unlike the previous year. Consequently, the appeal was dismissed based on the specific facts of the case. en-us Thu, 28 Feb 2019 00:00:00 +0530 Fri, 09 Sep 2022 13:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303944 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal on the taxability of interest income received by the Head Office from branches in India for Assessment Year 2009-10. The Tribunal relied on a previous decision for the same assessee, ruling that the interest income is not chargeable to tax in India. Additionally, the Tribunal clarified the application of Section 40(a)(i) of the Income Tax Act, emphasizing that in the current year, tax was deducted at the source, unlike the previous year. Consequently, the appeal was dismissed based on the specific facts of the case. Case-Laws Income Tax Thu, 28 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303944